How can it make good business sense to pay employees
How can it make good business sense to pay employees more than the law and the market require?
In 2010, during very difficult economic times, the Hobby Lobby retail chain with 455 stores in 36 states raised its company minimum wage for full-time employees to $11 per hour, nearly $4 more than the $7.25 required under federal law. Why did the company raise its wages well beyond the law’s requirements? David Green, the CEO of the privately owned corporation, said, “We have always tried to be a company that serves their employees.” Hobby Lobby had raised its minimum wage to $ 10 per hour in 2009, and the results were so positive that the company decided to provide another raise in 2010.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help